Macroeconomics
Quiz #1
Raymond Butler
A. Choose Two:
1) Recall the ‘Production Possibilities Model’ and our class discussion.
Graphically illustrate and talk about the ‘transition from the Great
Depression to WWII’ as presented in the video “War Towns”.
2) Briefly explain how Professor Galbraith’s thoughts on the “Mixed
Economy” and the “Planning Process” assist you in understanding the
“Transition” noted above.
3) In the reading “The Economist Behind the Curtain”, Jared Berstein focused
on the notions of “WITTs” and “YOYOs”, “Old Economics” and “Today’s
Economics”, and the “Invisible Hand” and the “Invisible Hand that is all
Thumbs”. Talk about how giving consideration to these ideas may help us
better comprehend and determine our economic progress in the 21st
Century.
B.
Bonus Question: Choose One
4) In “The Empathic Civilization”, Jeremy Rifkin states that, “...pivotal turning
points in human consciousness occur when ‘new energy regimes’ converge
with ‘new communications revolutions’, creating ‘new economic eras’…”.
List the four ‘eras’, ‘regimes’, and ‘revolutions’ he focused on and briefly
explain.
5) List and briefly explain what you believe to be three key ‘thinking points’
of the video on “Infrastructure Spending…”.